AKAM runs into sellers again around 72.24
Akamai Technologies Inc (AKAM) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
AKAM finished Monday at 71.64 edging higher $0.21 (0.29%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.
Daily Candlestick Chart (AKAM as at Apr 16, 2018):
Monday's trading range was $0.82 (1.14%), that's far below last trading month's daily average range of $1.59. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.
Prices are trading close to the key resistance level at 72.59. After having been unable to move above 72.24 in the previous session, the market ran into sellers again around the same price level today, failing to move higher than 72.24.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The stock managed to break above the 20-day moving average at 71.32 today for the first time since April 12th.
Buying could accelerate should prices move above the close-by swing high at 72.60 where further buy stops might get activated. Selling could speed up should prices move below the nearby swing low at 71.10 where further sell stops might get triggered.